Indian Energy Exchange | 250% returns expected (2.5x)

15 Agu 2024

INDIAN ENERGY EXCHANGE

Monthly time frame
Stock in uptrend since June 2023
Stock has broken out of the blue channel consolidation after 2 years
Stock is following a rounded bottom pattern
Stock riding above 20- & 50-month moving averages
RSI > 60
MACD crossover has happened, signalling beginning of bullish momentum

Weekly time frame
Breakout and retest of the consolidation channel confirmed
Stock is following a rounded bottom pattern
Stock riding above 20-, 50- & 200-week moving averages
Golden crossover has just been completed around mid Jul 2024
RSI > 60
MACD signalling beginning of bullish momentum

Daily time frame
Stock possibly in the process of making a higher low
Stock is in the yellow channel of upward consolidation
Stock riding above 50- & 200-week moving averages, just now touched 20 DMA
RSI > 50 which is still considered the bull zone

Conclusion
Entry: 185
Stop Loss: 160
Target 1: 235
Target 2: 315
Target 3: 444

Fundamentals
ROCE = 50 {Ideal > 15}
ROE = 38 {Ideal > 15}
Stock PE (46) < Industry PE (58) {Stock PE should ideally < Industry PE}
Int Coverage = 173 {Ideally > 2}
FII stake has increased from 10.89% to 11.66% last quarter

30 Agu 2024

Trade aktif

Trade is active

24 Sep 2024

Catatan

Hope the short term players booked partial profits at 235.